Alberta · NOI
Proposal Report to creditors dated September 8, 2023
Court officer report · 8 September 2023
A plain-language read of this filing opens with a subscription.
What we verified from this filing2 verified
- financial positionnote: Assets by category: Accounts receivable 1,370; Inventory 8,052; Prepaid expenses and other current assets 679; Property and equipment, net of depreciation 28,205 (Total 38,306, $000s). Liabilities by category: Overdraft Account 581; Accounts Payable 7,000; GST Payable 270; CFCU Term Loans 20,649 (Total 28,500, $000s). Both stated as book values as at July 31, 2023. · as at: 2023-07-31 · basis: book value, unaudited internal financial information provided by the Companies · scope: combined entity-level figures for OGEN Ltd. and OGEN Holdings Ltd. · currency: CAD · total assets: 38306000 · total liabilities: 28500000
- recovery outcomeentries: basis: liquidation_alternative · quote: As calculated above, if the Proposal is voted down and the Companies are deemed to make assignments in bankruptcy, it is estimated that the net realizations would result in no funds available for distribution to Unsecured Creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: In comparison, $1,015,000 would be available to the General Unsecured Class Creditors under the Proposal. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: proposal_trustee · amount low: 1015000 · amount high: 1015000 · class label: General Unsecured Class Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Payments under the Proposal could result in a recovery of up to 100% of Convenience Claims, up to the maximum of $20,000, and approximately 10% for General Unsecured Creditor Claims who have elected not to file as a Convenience Claim versus the alternative, which is a $nil recovery if the Proposal is rejected and the Companies become bankrupt. · pct of: unstated · outcome: distribution · pct low: 100 · pct high: 100 · class key: unsecured · stated by: proposal_trustee · amount low: 20000 · amount high: 20000 · class label: Convenience Claims · interim final: unstated · conditional on: up to 100% of Convenience Claims, up to the maximum of $20,000 · claims qualifier: unstated; basis: plan · quote: Payments under the Proposal could result in a recovery of up to 100% of Convenience Claims, up to the maximum of $20,000, and approximately 10% for General Unsecured Creditor Claims who have elected not to file as a Convenience Claim versus the alternative, which is a $nil recovery if the Proposal is rejected and the Companies become bankrupt. · pct of: unstated · outcome: distribution · pct low: 10 · pct high: 10 · class key: unsecured · stated by: proposal_trustee · class label: General Unsecured Creditor Claims (not filed as Convenience Claim) · interim final: unstated · claims qualifier: unstated · stated on: 2023-09-08 · table missing: